The government is likely to announce a scheme wherein oil marketing companies will offtake the entire supply of biodiesel from used cooking oil from all current and future plants to commemorate World Biofuel Day on Saturday, according to people aware of the development.
Biofuels in general are relatively environmentally-friendly fuels derived primarily from biomass such as plant, algae material or animal waste. Biodiesel, a type of biofuel, can be produced from used cooking oil as well.
“The government will likely announce an expression of interest in which they will give off-take agreements to all current biodiesel plants and future biodiesel plants that are making biodiesel from used cooking oil only,” an official aware of the development told The Hindu.
“The OMCs will guarantee a complete offtake of this biodiesel from used cooking oil and they will set a price for a set number of years.” Read More
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